Partners Paul McCurdy and Philip Robben and associate Genna Steinberg authored an article, “The Uncertain State of FINRA Arbitration,” published in Practical Law The Journal: Litigation. Several recent US Court of Appeals decisions demonstrate that, in certain contexts, members of the Financial Industry Regulatory Authority (FINRA) may seek to avoid arbitration provided for under FINRA Rule 12200 by adding judicial forum selection clauses to their customer agreements. While these decisions agree that parties can contract around FINRA’s arbitration requirement, the rulings create a potential conundrum for FINRA members, who may face disciplinary actions by FINRA for expressly avoiding its arbitration mandate.